Boeing Company (NYSE:BA) was upgraded by investment analysts at Vetr from a "sell" rating to a "hold" rating in a research note issued on Monday. The brokerage presently has a $129.80 price objective on the aircraft producer's stock. Vetr's price target indicates a potential downside of 2.36% from the company's current price.
In related news, SVP John J. Tracy sold 22,341 shares of the company's stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $133.60, for a total transaction of $2,984,757.60. Following the sale, the senior vice president now directly owns 22,372 shares of the company's stock, valued at approximately $2,988,899.20. The transaction was disclosed in a filing with the SEC, which is accessible here.
Also, SVP Timothy John Keating sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, May 5th. The shares were sold at an average price of $131.61, for a total value of $2,632,200.00. Following the sale, the senior vice president now directly owns 70,096 shares in the company, valued at $9,225,334.56. The disclosure for this sale can be found here.
Shares of Boeing traded down 0.40% during mid-day trading on Monday, reaching $132.94. The company's stock had a trading volume of 3,078,599 shares. Boeing has a 12-month low of $102.10 and a 12-month high of $150.59. The firm has a market cap of $84.68 billion and a price-to-earnings ratio of 17.96. The company's 50-day moving average is $130.60 and its 200-day moving average is $127.44.
Boeing last released its quarterly earnings results on Wednesday, April 27th. The aircraft producer reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by $0.09.
During the same period in the previous year, the business earned $1.97 earnings per share. The firm earned $22.60 billion during the quarter, compared to analyst estimates of $21.90 billion. The firm's revenue was up 2.2% on a year-over-year basis. On average, equities analysts anticipate that Boeing will post $8.49 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 2nd. Investors of record on Friday, August 12th will be given a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Wednesday, August 10th.
Several other research analysts also recently issued reports on BA. Sterne Agee CRT reaffirmed a "buy" rating and set a $196.00 price target on shares of Boeing in a research note on Saturday, April 9th. Jefferies Group set a $165.00 price target on Boeing and gave the stock a "buy" rating in a research note on Thursday, April 28th. Goldman Sachs set a $101.00 price target on Boeing and gave the stock a "sell" rating in a research note on Tuesday, May 31st.
Deutsche Bank reaffirmed a "buy" rating and set a $160.00 price target on shares of Boeing in a research note on Thursday, March 31st. Finally, Argus lifted their price target on Boeing from $140.00 to $155.00 and gave the stock a "buy" rating in a research note on Thursday, April 28th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company's stock. The stock has a consensus rating of "Hold" and an average target price of $147.66.
Other large investors have recently bought and sold shares of the company. Stillwater Investment Management LLC raised its stake in Boeing by 0.8% in the second quarter. Stillwater Investment Management LLC now owns 1,949 shares of the aircraft producer's stock, valued at $253,000, after buying an additional 16 shares in the last quarter. Tiemann Investment Advisors LLC raised its stake in Boeing by 1.0% in the first quarter. Tiemann Investment Advisors LLC now owns 2,640 shares of the aircraft producer's stock, valued at $335,000, after buying an additional 25 shares in the last quarter.
Condor Capital Management raised its stake in Boeing by 0.3% in the fourth quarter. Condor Capital Management now owns 10,996 shares of the aircraft producer's stock, valued at $1,590,000, after buying an additional 30 shares in the last quarter. YHB Investment Advisors Inc. raised its stake in Boeing by 1.2% in the second quarter. YHB Investment Advisors Inc. now owns 2,472 shares of the aircraft producer's stock, valued at $321,000, after buying an additional 30 shares in the last quarter.
Finally, Eagle Ridge Investment Management raised its stake in Boeing by 0.5% in the second quarter. Eagle Ridge Investment Management now owns 6,319 shares of the aircraft producer's stock, valued at $821,000, after buying an additional 33 shares in the last quarter.
Company
The Boeing Company is an aerospace firm. The Company operates in five segments: Commercial airplanes; Defense, Space & Security (BDS) business, such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). Its Commercial Airplanes segment develops, produces and markets commercial jet aircraft, which provides related support services to the commercial airline industry.